Amherst starts tender offer for class A pass-through certificates

By Marisa Wong

Los Angeles, March 13 – Amherst Group announced that Amherst Single Family Residential Partners VI, LP has begun an offer to purchase for cash any and all of AMSR 2022-SFR1 Trust’s outstanding $143.16 million single-family rental pass-through certificates, class A, with a pass-through rate of 2.942%, an assumed final distribution date of March 2027 and a rated final distribution date of March 2039.

The tender offer consideration is $950 per $1,000 principal amount, according to a press release. The offeror will also pay accrued interest.

The offer is set to expire at 5 p.m. ET on March 19.

Settlement is expected to occur on March 22.

The offer is subject to some conditions, which may be waived by the offeror. The offeror may also extend the offer.

Deutsche Bank Securities Inc. (855 287-1922 or 212 250-7527) or Goldman Sachs & Co. LLC (800 828-3192 or 212 902-6351) are dealer managers for offer.

Global Bondholder Services Corp. (212 430-3774 for banks and brokers or 855 654-2014; contact@gbsc-usa.com) is the information agent and the tender agent.

AMSR 2022-SFR1 Trust was formed by BAF Securities Depositor, LLC as depositor. The depositor is an indirect wholly owned subsidiary of Amherst Single Family Residential Partners VI and an affiliate of Amherst.

Amherst is an Austin, Tex.-based investment management company managing assets across real estate equity and debt strategies in single-family rental, commercial real estate and mortgage-backed securities.

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